TABLE OF CONTENTS
Title page i
Approval sheet ii
Dedication iii
Acknowledgments iv
Preface v
Table of contents vi
CHAPTER ONE
INTRODUCTION
1.0 Historical Background 1
1.1 Aims and Objectives 3
1.2 Achievements of the Company 4
1.3 The Principle Guiding Insurance Business 5
1.4 Importance of the study 6
1.5 Definition of some Insurance terms 7
1.6 Limitation of the study 11
1.7 Organization structure of Gateway Insurance Plc 13
CHAPTER TWO
2.0 Literature Review 16
2.1 Concept of life Insurance 19
2.2 Field Experience 21
2.3 The impact of each insurance policy to the Development
of insurance business 22
CHAPTER THREE
3.0 Data Collection 24
3.1 Various classes of some insurance policy and the
categories of people that takes each policy 27
3.2 To know the insurance policy that recorded the largest number
of customers from 2004-2009 with reference to sum assured. 29
CHAPTER FOUR
4.0 Analysis of Data 33
4.1 Spearman’s Rank Correlation method 36
4.2 Method of Analysis used 39
4.3 Moving Average Method 40
4.4 Least Square Regression Analysis 42
CHAPTER FIVE
5.0 Summary of Finding Discussion 53
5.1 General Inference 53
5.2 Recommendation and Conclusion 55
Reference 57
CHAPTER ONE
INTRODUCTION
1.0 HISTORICAL BACKGROUND
There exist risks in all forms of the business organization since there are many factors over which man has no power. Man cannot control, for example, the force of nature or some of the conduct of their human beings. In fact, all human endeavours have its attendant risks and hazard and one would wants to cover himself against these hazards hence this process is generally known as insurance.
The probability of these risks can be calculated mathematically and it is against these background that insurance can be effected. Insurance is based upon the polling risk. There is a common fund called premium to which the insured contributed to an it is from these that payment is made to those who suffer loss. The Gateway Insurance Company Plc was established by the Kwara State Government in 23rd September 1970 about two decades ago as a limited liability company. The company is licensed to transact all classes of insurance including accident, life and pension when it was fully incorporated.
